India-UK trade agreement boosts crop exports and revenue while giving people new hope: Farmers
The India-UK Free Trade Agreement (FTA) was greeted by farmers on Thursday, who described it as a significant boon to Indian agriculture and a watershed moment for the farming sector.
According to a farmer, who offered his opinions on the agreement, it will assist farmers shift from conventional farming patterns to more lucrative ones like oilseed and horticulture, in addition to increasing incomes.
“This is a really wise choice. It will assist us in resolving issues with water scarcity and crops. We will make more money if we cultivate and export high-quality fruits. There would be significant advantages to crops like soybean and mustard as well,” He said.
Prime Minister Narendra Modi and his UK counterpart, Keir Starmer signed the historic trade deal, which guarantees zero-duty access to 99 percent of Indian exports, including a variety of agricultural goods.
It is anticipated that this will help Indian farmers realize higher prices and put their goods on par with those of their European rivals in the UK market.
One fo the farmer emphasized that a lot of farmers are trapped in the cycle of growing sugarcane and cumin seeds, which results in stagnant income.
Another farmer stated, “We may now investigate other lucrative crops because exports are offering better rates. It’s time to stop growing the same crops over and over again.
He added that encouraging oilseed crops will increase sustainability and lessen the strain on water supplies.
“Mustard, soybean, and fruits grown for export will not just boost our income but also support India’s overall development,” he stated.
With lower tariffs and quicker regulatory clearances, the agreement is also anticipated to open up the UK market for horticulture products.
“With easier access and improved competitiveness, Indian farm exports like spices, fresh fruits, processed foods, and oilseeds will now reach more global customers,” a different farmer said.
The FTA, which was signed during PM Modi’s visit to the UK, is expected to improve India’s economic ties with one of the biggest economies in the world and boost bilateral trade by roughly $34 billion.